Project Profile
Location: onshore in eastern Romania
Area: 3.45 sq km
Resource: P50 reserves (unaudited) 448,000 bbl - Southern Structure
Depth: 2,000 metres
Start-up Year: -
The Grivita Nord concession is located onshore in eastern Romania and covers an area of 3.45km2. The Grivita Nord concession previously produced 37° API oil from 1979 to 2005, producing a total of 763,457 barrels of oil from two separate structures: the Northern Structure and the Southern Structure. A total of 14 wells were drilled in the concession area, seven wells in the Northern Structure and seven wells in the Southern Structure. New mapping of the Southern Structure suggests only the south-west portion of the structure has been developed leaving a large unswept area with the potential for a new well to be optimally placed in a crestal location to produce the remaining reserves. P50 reserves (unaudited) for the Southern Structure are estimated to be 448,000 barrels of oil with an unrisked NPV10 of US$25.55 million, and initial production rates of 761 barrels of oil per day from the one well development. Zeta Petroleum, the operator of the license, intends to drill a development well (with a 150 metre horizontal section) to a depth of 2,000 metres into a crestal location on the Southern Structure and bring the field back into production.
Operators:
Zeta Petroleum: Operator with 100% interest